AMGN

MKT CAP:$187B

Amgen Inc.

Market Cap

$187B

Healthcare·Drug Manufacturers - General·🇺🇸 United States·NASDAQ

Healthcare·Drug Mfg.·🇺🇸·NASDAQ

Stock Price

$346.21+$18.57 (+5.67%)

Apr 24, 2026

Company Details

Amgen Inc. discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products includ...

CEO

Robert A. Bradway

IPO Date

Jun 17, 1983

Website

www.amgen.com

Key Metrics TTM

Revenue

$36.8B

+10.0% YoY

Net Income

$7.7B

EPS (Diluted)

$14.23

Free Cash Flow

$8.1B

Revenue / Share

$67.71

Gross Margin

70.5%

Operating Margin

28.0%

Net Margin

21.0%

FCF Margin

22.0%

P/S

5.1x

P/E

24.2x

Earnings Reports

Q1 2026

May 7, 2026

PENDING

FY 2025

Feb 13, 2026

$36.7B+9.9%EPS $14.23

Q4 2025

Feb 13, 2026

$9.9B+8.9%EPS $2.45

Q3 2025

Nov 4, 2025

$9.6B+12.4%EPS $5.93

Q2 2025

Aug 5, 2025

$9.2B+9.3%EPS $2.65

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$6.2B	$4.7B	$2.5B
Q2 22	$6.6B	$5.1B	$2.2B
Q3 22	$6.7B	$5.1B	$2.7B
Q4 22	$6.8B	$5.1B	$2.2B
Q1 23	$6.1B	$4.4B	$1.9B
Q2 23	$7.0B	$5.2B	$2.7B
Q3 23	$6.9B	$5.1B	$2.0B
Q4 23	$8.2B	$5.1B	$1.3B
Q1 24	$7.4B	$4.2B	$991M
Q2 24	$8.4B	$5.2B	$1.9B
Q3 24	$8.5B	$5.2B	$2.0B
Q4 24	$9.1B	$6.0B	$2.3B
Q1 25	$8.1B	$5.2B	$1.2B
Q2 25	$9.2B	$6.2B	$2.6B
Q3 25	$9.6B	$6.5B	$2.5B
Q4 25	$9.9B	$8.1B	$3.9B

Valuation

Quarter	P/S	P/E
Q1 22	5.0x	23.0x
Q2 22	5.0x	19.9x
Q3 22	4.7x	18.0x
Q4 22	5.5x	22.0x
Q1 23	5.0x	16.5x
Q2 23	4.5x	15.1x
Q3 23	5.3x	18.8x
Q4 23	5.9x	24.8x
Q1 24	5.1x	40.4x
Q2 24	5.4x	53.4x
Q3 24	5.4x	41.2x
Q4 24	4.2x	34.3x
Q1 25	4.9x	28.3x
Q2 25	4.3x	22.7x
Q3 25	4.1x	21.0x
Q4 25	4.8x	23.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$2.2B	$2.0B
Q2 22	$1.9B	$1.7B
Q3 22	$3.0B	$2.8B
Q4 22	$2.6B	$2.3B
Q1 23	$1.1B	$720M
Q2 23	$4.1B	$3.8B
Q3 23	$2.8B	$2.5B
Q4 23	$538M	$289M
Q1 24	$689M	$459M
Q2 24	$2.5B	$2.2B
Q3 24	$3.6B	$3.3B
Q4 24	$4.8B	$4.4B
Q1 25	$1.4B	$980M
Q2 25	$2.3B	$1.9B
Q3 25	$4.7B	$4.2B
Q4 25	$1.6B	$961M

Capital Expenditures

Quarter	CapEx
Q1 22	$190M
Q2 22	$246M
Q3 22	$160M
Q4 22	$340M
Q1 23	$344M
Q2 23	$271M
Q3 23	$248M
Q4 23	$249M
Q1 24	$230M
Q2 24	$238M
Q3 24	$257M
Q4 24	$371M
Q1 25	$411M
Q2 25	$369M
Q3 25	$436M
Q4 25	$642M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+5.7%	-0.9%
Q2 22	+1.0%	-22.5%
Q3 22	-0.8%	-7.8%
Q4 22	-0.1%	+1.5%
Q1 23	-2.1%	+11.9%
Q2 23	+5.9%	-2.6%
Q3 23	+3.8%	+22.3%
Q4 23	+19.8%	+50.2%
Q1 24	+22.0%	+54.3%
Q2 24	+20.1%	+50.6%
Q3 24	+23.2%	+32.2%
Q4 24	+10.9%	-2.2%
Q1 25	+9.4%	+8.0%
Q2 25	+9.3%	+0.7%
Q3 25	+12.4%	+8.9%
Q4 25	+8.9%	-12.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$401M	5.9%
Q1 23	$47M	0.8%
Q2 23	$119M	1.7%
Q3 23	$104M	1.5%
Q4 23	$473M	5.8%
Q1 24	$103M	1.4%
Q2 24	$157M	1.9%
Q3 24	$136M	1.6%
Q4 24	$134M	1.5%
Q1 25	$85M	1.0%
Q2 25	$157M	1.7%
Q3 25	$127M	1.3%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	$959M	—	—	$1.2B
Q2 22	$1.0B	—	—	$1.3B
Q3 22	$1.1B	—	—	$1.3B
Q4 22	$1.3B	—	—	$1.6B
Q1 23	$1.1B	—	—	$1.3B
Q2 23	$1.1B	—	—	$1.3B
Q3 23	$1.1B	—	—	$1.4B
Q4 23	$1.5B	—	—	$2.3B
Q1 24	$1.3B	—	—	$1.8B
Q2 24	$1.4B	—	—	$1.8B
Q3 24	$1.4B	—	—	$1.6B
Q4 24	$1.7B	$891M	$987M	—
Q1 25	$1.5B	—	—	$1.7B
Q2 25	$1.7B	—	—	$1.7B
Q3 25	$1.9B	—	—	$1.7B
Q4 25	$2.2B	—	—	$1.9B

Revenue Segments

Quarter	Aranesp	Enbrel	Kyprolis	Neulasta	Nplate	Otezla	Other Products	Product and Service, Other	Prolia	Repatha (evolocumab)	Xgeva	Evenity	Blincyto	Krystexxa	Tepezza	Tezspire	Vectibix
Q1 22	$358M	$862M	$287M	$348M	$266M	$451M	$1.5B	$507M	$852M	$329M	$502M	—	—	—	—	—	—
Q2 22	$357M	$1.1B	$317M	$310M	$284M	$594M	$1.6B	$313M	$922M	$325M	$533M	—	—	—	—	—	—
Q3 22	$358M	$1.1B	$318M	$247M	$288M	$627M	$1.6B	$415M	$862M	$309M	$495M	—	—	—	—	—	—
Q1 23	$355M	$579M	$358M	—	$362M	$392M	$1.7B	$259M	$927M	$388M	$536M	$254M	—	—	—	—	—
Q2 23	$365M	$1.1B	$346M	—	$310M	$600M	$1.7B	$303M	$1.0B	$424M	$530M	$281M	—	—	—	—	—
Q3 23	$323M	$1.0B	$349M	—	$419M	$567M	$1.6B	$355M	$986M	$406M	$519M	$307M	—	—	—	—	—
Q1 24	$349M	$567M	$376M	—	$317M	$394M	$1.4B	$329M	$999M	$517M	$561M	$342M	$244M	$235M	$424M	$173M	$247M
Q2 24	$348M	$909M	$377M	—	$346M	$544M	$1.3B	$347M	$1.2B	$532M	$562M	$391M	$264M	$294M	$479M	$234M	$270M
Q3 24	$337M	$825M	$378M	—	$456M	$564M	$1.4B	$352M	$1.0B	$567M	$541M	$399M	$327M	$310M	$488M	$269M	$282M
Q1 25	$340M	$510M	$324M	—	$313M	$437M	$1.6B	$276M	$1.1B	$656M	$566M	$442M	$370M	$236M	$381M	$285M	$267M
Q2 25	$359M	$604M	$378M	—	$369M	$618M	$1.7B	$408M	$1.1B	$696M	$532M	$518M	$384M	$349M	$505M	$342M	$305M
Q3 25	$357M	$580M	$359M	—	$457M	$585M	$1.9B	$420M	$1.1B	$794M	$539M	$541M	$392M	$320M	$560M	$377M	$284M

Revenue by Geography

Quarter	Non-US	United States
Q2 22	$1.8B	$4.4B
Q1 23	$1.9B	$4.0B
Q2 23	$1.9B	$4.7B
Q1 24	$2.1B	$5.0B
Q2 24	$2.2B	$5.8B
Q3 24	$2.2B	$6.0B
Q1 25	$2.2B	$5.7B
Q2 25	$2.4B	$6.3B
Q3 25	$2.4B	$6.8B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$6.5B	$16M	$6.5B
Q2 22	$5.2B	$2.0B	$7.2B
Q3 22	$9.5B	$2.0B	$11.5B
Q4 22	$7.6B	$1.7B	$9.3B
Q1 23	$31.6B	$1M	$31.6B
Q2 23	$34.2B	$0	$34.2B
Q3 23	$34.7B	$0	$34.7B
Q4 23	$10.9B	$0	$10.9B
Q1 24	$9.7B	$0	$9.7B
Q2 24	$9.3B	$0	$9.3B
Q3 24	$9.0B	$0	$9.0B
Q4 24	$12.0B	$0	$12.0B
Q1 25	$8.8B	$0	$8.8B
Q2 25	$8.0B	$0	$8.0B
Q3 25	$9.4B	$0	$9.4B
Q4 25	$9.1B	$0	$9.1B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	551M	-2.5%	-5.2%
Q2 22	537M	-2.5%	-6.8%
Q3 22	538M	+0.2%	-5.6%
Q4 22	539M	+0.2%	-4.6%
Q1 23	538M	-0.2%	-2.4%
Q2 23	537M	-0.2%	0.0%
Q3 23	538M	+0.2%	0.0%
Q4 23	540M	+0.4%	+0.2%
Q1 24	536M	-0.7%	-0.4%
Q2 24	541M	+0.9%	+0.7%
Q3 24	542M	+0.2%	+0.7%
Q4 24	542M	0.0%	+0.4%
Q1 25	541M	-0.2%	+0.9%
Q2 25	541M	0.0%	0.0%
Q3 25	542M	+0.2%	0.0%
Q4 25	543M	+0.2%	+0.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$257.8K	24K
Q2 22	$272.5K	24K
Q3 22	$274.9K	24K
Q4 22	$271.4K	25K
Q1 23	$242.3K	25K
Q2 23	$277.2K	25K
Q3 23	$273.9K	25K
Q4 23	$307.0K	27K
Q1 24	$278.9K	27K
Q2 24	$314.2K	27K
Q3 24	$318.5K	27K
Q4 24	$324.5K	28K
Q1 25	$291.0K	28K
Q2 25	$327.4K	28K
Q3 25	$341.3K	28K
Q4 25	$314.2K	32K

Revenue / Employee